Crypto Daily – Ohio State Representative Derek Merrin introduced a bill to establish a reserve in the state’s treasury. Ohio becomes the third US state to do so after Texas and Pennsylvania.
House Bill 703, the Ohio Bitcoin Reserve Act, proposes the creation of a state Bitcoin fund and grants the treasurer the authority to purchase the asset.
Ohio Proposes State Bitcoin Reserve
The bill, introduced by Ohio State Representative Derek Merrin, sees Ohio follow in the footsteps of Texas and Pennsylvania in introducing a bill that would authorize the state treasury to use public funds and invest in Bitcoin (BTC). However, the bill does not mandate such investments. Representative Merrin released a statement highlighting the rapid devaluation of the , suggesting that BTC could act as an avenue to protect tax revenue and strengthen the state’s financial position. Merrin stated on X,
“Today, I filed HB 703 to create the Ohio Bitcoin Reserve within…
Read More
